$$$ Totally O/T $$$ Canadian Dollar Going Up, Up And Away!

[FUBAR]

add 12 % HST to a home.... now add in the fact the new laws are that you cannot finance/ mortgage more then 90% of your home value(new federal law)

so you take the average house price in Vancouver is 750k, tax on that house is 90k. you can only finance 675 k. so now your down payment is 165k plus the CMHC fees and such..

The HST and the new mortgage laws are going to kill our housing market in the local economy.. it will spiral from there.

Lets take groceries... if your spend $100 per week, you will pay an extra $7.00 x 52 weeks... then there are clothes for your kids, they will now be taxed, used vehicles, gas, booze, even your big mac or morning coffee. You name it, 7% more. Sure some items wont change, but alot will.

Now as a lawyer/ business man, you might enjoy it, but as the average Joe, it will hurt.

For my personal business, it just might price me out of contention. I have to pay the HST on the goods i buy, but i sell them to the middle east and cannot charge the tax. I must eat that cost and figure it into my selling price and my price will be too high against my american competitors.

No ONe will ever convince the HST is a good thing. I have freinds back east that have had the HST for years, and they all say it is terrible! NOt one positive comment about it.

Gordo is all about the kickbacks.. him and his stupid f'in red mittens need a kick in the mangina!